Hyderabad witnessed a surge in residential property sale in 2023, reaching a total of 32,880 units, marking a substantial 6% Year on Year (YoY) growth. Nearly half of these transactions occurred in the upscale segment, valued at ₹1 crore and above. Additionally, developers launched 46,985 units (not sold) during the year, with 43% of these being in the premium category.
The highest demand was observed in the ₹1 crore and above segment, with 16,086 units sold, surpassing the 2022 figures of 11,632 units. The next segment, priced between ₹50 lakh and ₹1 crore, saw 13,120 units being sold, slightly lower than the previous year’s 13,784 units. The less than ₹50 lakh category saw a decline, with 3,674 units sold compared to 5,630 units in 2022.
These insights were unveiled in the ‘India Real Estate - Residential and Office Market Report’ by Knight Frank. Key micro markets across the city exhibited double-digit rental appreciation. Kokapet recorded a 39% yearly change in price, ranging from ₹10,045 to ₹12,500 per square feet, while Manikonda and Rajendra Nagar saw rise of 28% and 20%, respectively. Banjara Hills, with a price range of ₹14,400 to ₹16,000 per square feet, registered a 12% yearly change.
